Two former Parramatta Eels players are accused of harbouring semi-automatic weapons and possessing more than half-a-million dollars in cash after dramatic arrests in Sydney's Centennial Park yesterday.

Greens back election funding reform

The Australian Greens say electoral funding reform is essential to restore public faith in the political system.

The 2013 federal election is likely to be the most expensive ever, with the entry of billionaire Clive Palmer and his Palmer United Party into the campaign.

Greens democracy spokeswoman Senator Lee Rhiannon said under the current system the amount of money received and spent by parties after July would not be published by the Australian Electoral Commission until February 2015.

Senator Rhiannon said the new parliament should consider laws to enforce continuous disclosure of donations.

She said the 2013 election was typified by "big money buying outcomes".

"When you are one of the richest people in Australia and you bankroll a campaign to such a degree you get more airspace and attract more interest and votes it makes people more cynical about the political process," Senator Rhiannon said.

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The Greens have previously put up bills to ban corporation donations, place limits on the amount of money individuals can spend on campaigning, lower the threshold for disclosure of donations, rely more on public money and put an overall cap on parties' election spending.